Heritage Trust Co Makes New $3.73 Million Investment in U.S. Bancorp (NYSE:USB)

Heritage Trust Co acquired a new position in shares of U.S. Bancorp (NYSE:USB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 78,006 shares of the financial services provider's stock, valued at approximately $3,731,000.

A number of other hedge funds have also recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at approximately $777,524,000. Invesco Ltd. lifted its holdings in shares of U.S. Bancorp by 48.1% in the 4th quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider's stock valued at $802,947,000 after buying an additional 5,449,949 shares during the period. Franklin Resources Inc. boosted its stake in shares of U.S. Bancorp by 153.0% in the third quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider's stock valued at $374,573,000 after buying an additional 4,807,662 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in U.S. Bancorp in the fourth quarter valued at $184,733,000. Finally, FMR LLC boosted its position in shares of U.S. Bancorp by 5.0% during the 4th quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock worth $3,210,624,000 after purchasing an additional 3,211,815 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jodi L. Richard sold 30,000 shares of the company's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the completion of the sale, the insider now owns 99,790 shares in the company, valued at approximately $4,749,006.10. This represents a 23.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Cecere sold 102,044 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total value of $4,821,579.00. Following the completion of the sale, the chief executive officer now owns 1,230,316 shares of the company's stock, valued at approximately $58,132,431. This trade represents a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is owned by corporate insiders.

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Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. The Goldman Sachs Group decreased their price objective on shares of U.S. Bancorp from $51.00 to $45.00 and set a "neutral" rating on the stock in a report on Wednesday, March 19th. Piper Sandler upgraded U.S. Bancorp from a "neutral" rating to an "overweight" rating and set a $58.00 price objective on the stock in a report on Monday, January 13th. Barclays increased their target price on U.S. Bancorp from $57.00 to $61.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Bank of America lowered their price target on U.S. Bancorp from $50.00 to $49.00 and set a "buy" rating for the company in a report on Monday, March 17th. Finally, Morgan Stanley dropped their price objective on shares of U.S. Bancorp from $55.00 to $51.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $52.52.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock traded down $0.70 during trading on Wednesday, hitting $37.93. The stock had a trading volume of 10,132,588 shares, compared to its average volume of 9,018,403. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The business has a fifty day moving average of $43.10 and a two-hundred day moving average of $46.93. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The firm has a market cap of $59.10 billion, a P/E ratio of 10.01, a PEG ratio of 1.73 and a beta of 0.91.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.06. The business had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.92 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. During the same period in the previous year, the firm earned $0.78 EPS. On average, sell-side analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.27%. The ex-dividend date of this dividend was Monday, March 31st. U.S. Bancorp's payout ratio is 52.77%.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.